GnBS Engineering Co.LTD. announced a private placement of 287,625 common shares at an issue price of KRW 11,850 per share for total gross proceeds of KRW 3,408,356,250 on September 27, 2022. The transaction will include participation from CS Clean SYSTEMS AG for 287,625 shares. The method of capital increase will be through third party allocation.

The common shares will have a lock up period of one year. The expected date of payment is October 14, 2022. The transaction has been approved by board of directors of the company.